FREE

Michael Calvey, U.S. Investor, Released From Detention in Russia: NYT

A Russian court released American investor Michael Calvey from pretrial detention on Thursday, The New York Times reports. Calvey, the founder and CEO of private equity firm Baring Vostok, and four of his colleagues were arrested in February, reportedly after a “dispute with business partners over an investment in a Russian bank.” Government prosecutors requested Calvey be released on Thursday, after government investment fund head Kirill Dmitriev and others issued statements in favor of his release. The court ordered that Calvey be confined to house arrest, but his colleagues are still being held. According to the Times, Calvey’s detainment led other U.S. companies operating in Russia to worry their executives might also be arrested due to rising Russia-U.S. tensions.